Boeing to further slow 747 production in 2016

Seattle

BOEING Co said on Wednesday that it would slow production of its 747-8 jumbo jet by 23 per cent to one per month starting in March, an effort to keep the production line running amid sluggish demand for the iconic, humped-top plane.

Boeing, the world's largest plane maker, is currently building 747s at a rate of 1.5 a month and had already announced plans to reduce the rate to 1.3 a month from September.